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If you purchased shares of PharMerica Corporation (NYSE:PMC) and currently hold any of those NYSE:PMC shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
An investor, who currently holds shares of PharMerica Corporation (NYSE:PMC), filed a lawsuit in effort to halt the proposed takeover of PharMerica Corporation for $29.25 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:PMC stockholders by agreeing to sell PharMerica Corporation cheaply via an unfair process.
On August 2, 2017, PharMerica Corporation (NYSE:PMC) announced that it has entered into a merger agreement pursuant to which a newly formed company controlled by KKR, with Walgreens Boots Alliance, Inc. (Nasdaq:WBA) as a minority investor, will acquire PharMerica. Under the terms of the agreement, PharMerica Corporation (NYSE:PMC) shareholders will receive $29.25 in cash for each share of PharMerica common stock upon closing of the proposed transaction.
However, plaintiff claims that the proposed consideration NYSE:PMC shareholders will receive is grossly inadequate and undervalues PharMerica Corporation. Indeed, at least one analyst has set the high price target for NYSE:PMC shares at $31 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:PMC stockholders.